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Regulatory

REPEAT: Award-winning Investigative News Program W5 Airs Part 2 of 3-part Television Series on Alleged Stock Market Manipulation of Quantum Biopharma Involving Two of Canada's Largest Banks, CIBC and RBC

By The Northwire Desk — AI Analysis Nov 28, 2025 · 09:30 QNTM · 20.90 Quantum BioPharma Ltd.
QNTM · Price

Executive Summary

  • Quantum BioPharma announces the airing of Part 2 of a three-part investigative series by CTV News’ W5 regarding the company’s allegations of stock market manipulation ("stock spoofing").
  • The series highlights the company’s USD $700 million lawsuit against major Canadian financial institutions CIBC and RBC, alleging illegal trading practices intended to manipulate the company's stock price.
  • Management emphasizes the goal of exposing these practices to protect retail investors and other companies from similar alleged manipulation.

Key Details

  • Media Coverage: CTV News’ flagship investigative program W5 aired Part 2 of a three-part series titled “‘Something was wrong’: Inside a Canadian biotech firm’s fight to prove ‘stock spoofing.’”
  • Lawsuit Context: The media coverage centers on Quantum BioPharma’s USD $700 million lawsuit against CIBC and RBC.
  • Allegations: The company alleges that Canadian exchange trading data shows massive-scale stock spoofing intended to manipulate Quantum BioPharma’s stock price.
  • Specific Claims: Quantum BioPharma alleges that at least 16 million illegal and fictitious orders originated from Canadian bank platforms.
  • Company Stance: CEO Zeeshan Saeed stated the goal is to bring attention to the illegal practice of stock spoofing and its harmful effects on retail investors, hoping to prevent other companies and shareholders from experiencing similar issues.
  • Leadership Commentary: Co-Executive Chair Anthony Durkacz stated that banks and brokers have a responsibility to act as gatekeepers to ensure clients do not breach trading rules or engage in illegal activities like stock spoofing.

Notable Quotes

  • Zeeshan Saeed, CEO: “We thank W5 for their important investigation into the illegal, but little known, practice of stock spoofing and some of its harmful effects on retail investors... By shining a light on our experience with alleged stock market manipulation, we hope to prevent other companies, their shareholders and their beneficiaries, from experiencing what we have been through.”
  • Anthony Durkacz, Co-Executive Chair: “The basis of our USD $700 million lawsuit against CIBC and RBC is that we are alleging Canadian exchange trading data clearly show stock spoofing on a massive scale intended to manipulate Quantum BioPharma’s stock price. It is the banks and the brokers that have the responsibility to act as gatekeepers, and to ensure that their clients and their traders are not breaching trading rules and regulations, or engaging in illegal activity such as stock spoofing.”
Read the original news release →

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